Amendment to section 56: expands charitable registration reference and increases specified rate for certain receipts. The amendment substitutes references to section 12AA with references to section 12AA or section 12AB across multiple clauses and provisos of sub section ... Summary
Amendment to section 56: expands charitable registration reference and increases specified rate for certain receipts.
The amendment substitutes references to section 12AA with references to section 12AA or section 12AB across multiple clauses and provisos of sub section (2), effective 1 June 2020, and raises the prescribed rate in clause (x)(b)(B)(ii), with the higher rate effective 1 April 2021.
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